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Probo assures full cooperation with authorities after ED raids

EntrackrEntrackr · 16h ago
Probo assures full cooperation with authorities after ED raids
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Probo assures full cooperation with authorities after ED raids Following the Enforcement Directorate's raids on Probo and seizure of assets worth Rs 284 crore, the Gurugram-based startup has issued a public statement addressing the developments. The company emphasized that it is fully cooperating with law enforcement in the ongoing inquiry and expressed confidence in emerging stronger through the process. “In light of recent developments, we would like to assure all stakeholders and the public that Probo is cooperating with law enforcement authorities in the ongoing inquiries,” a spokesperson said. Probo highlighted its role in building a “nascent-yet-transformative” technology and underscored its belief in India’s regulatory ecosystem. “We remain confident that our commitment to compliance and innovation will help us emerge stronger. We have complete faith in India's robust regulatory framework and its vision for responsible tech innovation,” the spokesperson added. Probo, which claims to operate a skill-based platform and India's leading information marketplace, also shared metrics on its user base and reach. According to the statement, over 4.2 crore users have accessed the platform, which the company says offers wealth creation opportunities beyond traditional financial systems. The company also reaffirmed its adherence to applicable laws and emphasized user safety and trust as top priorities. The ED action is part of a broader probe into what the agency has termed "illegal online betting operations under the guise of opinion trading.” Probo is among several platforms currently under scrutiny.

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